Texas Instruments Galloping Ahead
by Sam Collins 07/17/09
Texas Instruments (TXN) -- This worldwide semiconductor designer and manufacturer fell from more than $39 in July 2007 to less than $15 in December 2008.
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From December to April, TXN traded in a base, which it broke out from in May. It followed with a golden cross in early June that took the stock to the low $20s.
This week, TXN broke out again on a breakaway gap supported by strong volume.
The trading target for TXN is $28, with a higher long-term goal in the mid-$30s.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted at samailc@cox.net. You can also check out an archive of some of his most recent market outlooks.
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